Indian Bank vs M/S.V.G.P.Finance Ltd.& Anr

The Supreme Court held that the validation of sale deeds by the Company Court must consider the interests of all creditors, both secured and unsecured, as mandated by statutory requirements. The Court found that the High Court failed to address the claims of Indian Bank, a secured creditor, and did not examine the list of assets held by the company in liquidation. Consequently, the Court restored the application for validation to the Company Judge for a fresh decision, ensuring that all creditor interests are considered and maintaining the status quo regarding possession of the property until the matter is resolved.